Not in fact having the total of capital…Bitboy Crypto Channel… so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you actually start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission charges are free however there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars rather you have to pay their costs now the terrific aspect of though when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bitboy Crypto Channel.
You are offered lots of choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be exactly what you need.